Thank you, Mr. Chairman. This motion will reduce the post-April 1996 access to benefits by more than 50 per cent. In real dollar terms this means an annual saving on pension liabilities of approximately $750,000; and, a savings of more than $2 million over the life of the 13th Assembly.
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The public told us in clear terms during the election that changes to pension entitlements were necessary. They were right. Public expectation, assisted by the report on the MLA compensation, has guided us through this process of change.
I am satisfied that these are reasonable, responsible and substantive changes which again demonstrate our collective commitment to making difficult decisions which affect all of
Mr. Chairman, it's a very, very difficult time in the Northwest Territories. It's difficult not only for our employees, but it's a difficult time for those who are unemployed and those who are in business and it is also going to be a difficult time for us, as elected people. But we're on this boat together and if we continue to sail it together, we'll get to the end of the ocean together and we will see brighter times in the future. We will see it with a reduced pension, my friends, but we will see some brighter times.
With that, I would just like to let the people of the Northwest Territories know that we said from the beginning, all 24 of us have said it, we will lead by example. With this motion and with Members of this Assembly supporting this motion, we will have done that.
With that, Mr. Chairman, I request a recorded vote.
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